By Eugene N. Gurenko
Weather swap brings a couple of new set of significant fiscal dangers coming up from altering climate styles, severe climate occasions and emerging sea degrees. these such a lot in danger are constructing nations, who, regardless of significant post-disaster donor relief, were bearing the key brunt of disaster-related losses. One version answer that's quickly gaining aid of nations and overseas donors is a hazard move to the worldwide reinsurance and capital markets. This quantity, a distinct factor of the magazine weather coverage, explores the position that insurance-based mechanisms can play in supporting those international locations to arrange for weather swap. It deals a distinct and complete standpoint at the strength function of assurance strategies in international model to weather swap.
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Extra resources for Climate Change and Insurance: Disaster Risk Financing in Developing Countries
26844. The World Bank, Washington, DC. World Bank, 2005a. Commodity and weather risk management programs to be expanded. In: World Bank News and Broadcast, 24 May 2005. World Bank, 2005b. Colombia: Second Disaster Vulnerability Reduction Project. Report No. AB908. The World Bank, Washington, DC. World Bank, 2005c. Managing Agricultural Production Risk: Innovations in Developing Countries. Report No. 32727-GLB. The World Bank, Agriculture and Rural Development Department (ARD),Washington, DC. World Bank, 2006.
In May 2003, critical issues and questions were raised at a United Nations Framework Convention on Climate Change (UNFCCC) workshop. Since then, however, the idea has not received much development. The proposed Climate Change Funding Mechanism (CCFM) aims to provide financial support for countries which suffer catastrophic economic damage due to climate change impacts and which cannot recover on their own due to a lack of financial resources.
2005. Looking at Rural Risk Management using an Asset-based Approach. Paper prepared for the Commodity Risk Management Group, Agricultural and Rural Development Department, ESW. The World Bank, Washington, DC. Tsunami Evaluation Coalition, 2006. org/The+TEC+Synthesis+Report/]. UNFCCC, 2001. 1, p. 7 (Funding under the Convention). United Nations, 1992. United Nations Framework Convention on Climate Change. United Nations, 1997. Kyoto Protocol to the United Nations Framework Convention on Climate Change.